DP World and the Government of Angola have signed a Memorandum of Understanding (MoU) with the aim of cooperating to further develop the country’s trade and logistics sector.
The MoU was signed in Luanda by Eugenio de Lima Fernandes, National Director for Concession Economics, and Suhail Al Banna, CEO and MD, Middle East and Africa Region, DP World, in the presence of HE, Dr Ricardo Viegas de Abreu, Angola’s Minister of Transport, and Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World.
The MoU aims to pave the way for the two parties to enter into formal discussions to explore cooperation in the areas of ports and terminals, special economic zones and logistics parks, cross border trade facilitation, trade finance and marine services, as well as logistics support in other commodity-based sectors.
The company began operations at the Multipurpose Terminal (MPT) at the Port of Luanda in March 2021 after it was awarded a 20-year concession to manage, operate and modernise the facility.
Since then, the company has invested in new equipment and facilities, technology and the development and training of staff, as part of a $190m initial investment to transform the terminal into a major maritime hub along the western coast of Southern Africa.
Following the implementation of the MPT’s development and modernisation plan, the company has claimed to have increased operational efficiency threefold within the first six months of starting operations. DP World also claims that the terminal is the first in the country to handle two large vessels simultaneously.
Source: DP World
